MACD ZigZag
Utilizing the ZigZag indicator in conjunction with MACD through Amibroker AFL offers traders a robust tool for identifying price trends. The ZigZag indicator helps smooth out price movements and highlight significant price swings, complementing the MACD’s trend-following capabilities. Amibroker data feed capabilities enable real-time analysis, empowering traders to develop more effective trading strategies by integrating the ZigZag indicator with MACD within the AFL script.
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_SECTION_BEGIN("macdzigzag");
//
// This example show how you can "Explore" an indicator,
//
// This is usefull for displaying the effects of pattern detection functions
// on Signals.
//
// A simple example of this, As show by this AFL, Is the ZigZag indicator.
//
// Use CTRL-R to bring up the Parameters Dialog to Explore.
//
//
//
//------------------------------------------------------------------------------
//MACD POSC cross, By Dennis aka theoldchartreader@yahoo.com
//With Explorer & Zig Filter by OzFalcon@BDen.org .
AdjBar = Param("Bar",0,0,BarCount,1);
AdjZ = Param("Zig",10,0,20,.1);
//Select Current Tickers OHLC
CO = Ref(O,-AdjBar);
CH = Ref(H,-AdjBar);
CL = Ref(L,-AdjBar);
CC = Ref(C,-AdjBar);
//Select Foriegn OHLC
"Ticker " + TN = Name() ; // Show Ticker
"Index " + BI = GetBaseIndex(); //BI = BaseIndex String
FO = Ref(Foreign( BI,"O"),-AdjBar);
FH = Ref(Foreign( BI,"H"),-AdjBar);
FL = Ref(Foreign( BI,"L"),-AdjBar);
FC = Ref(Foreign( BI,"C"),-AdjBar);
//Create Trend
ZAC = Zig( CC, AdjZ );
UTrend = ZAC > Ref(ZAC, -1);
DTrend = ZAC < Ref(ZAC, -1);
//Do Cross (Create Result Arrays)
t1 = OscP( 3, 6 );
Cond1a= Cross (t1,MACD());
Cond1b= MACD()>-1 AND MACD()<0;
Cond1= Cond1a AND Cond1b;
Cond2 = MACD()>Signal()-.5;
Cond3 = Cross(0,t1);
// Select Conditions to Display.
C1 = Ref(Cond1,-AdjBar);
C2 = Ref(Cond2,-AdjBar);
C3 = Ref(Cond3,-AdjBar);
//Plot Data
Color = IIf(CO > CC, colorBlack, colorRed);
PlotOHLC( CO,CH,CL,CC, "Price", color, styleCandle );//Plot Selected Ticker.
PlotOHLC( FO,FH,FL,FC, BI, colorLightGrey);//Plot Sector Index.
ZColor = IIf(UTrend, colorAqua, colorYellow);
Plot( ZAC, "Zig", ZColor, 3); //Plot ZigZag Trend.
//Show Buy/Sell Arrows.
Buy = C1 AND C2 AND UTrend;
Sell= C3 AND DTrend;
PlotShapes( shapeDownArrow * Sell, colorRed );
PlotShapes( shapeUpArrow * Buy, colorGreen );
// Iterpretation
"Be Aware of ZigZag Limitations.";
"Use CTRL-R to Explore Signals/Zig.";
_SECTION_END();